Charlotte Real Estate Talk

Make Your Own Organic Fruit Wash

Scott Pridemore — Tue, 21 Feb 2012 13:45:00 +0000

How clean are the fruits and vegetables you eat? Unless you pick your food straight from the farm, your food is likely more dirty than you think.

In addition to pesticide treatment made while food is still “on the vine”, fruits and vegetables you buy at a grocery are often coated in wax to preserve their “shelf life”; and you can never know how much dirt your food has rolled in.

Even organic foods are handled multiple times on the way to the grocery store. They may be pesticide-free, but they’re not dirt-free or free from human handling.

This is why we wash fruits and vegetables before consumption — to wash off dirt. But, there are extra precautions you can take to make sure your food is truly “clean”.

One such method is to use a make-it-yourself, organic fruit wash. The recipe is basic and simple. All you need is a large, lidded pitcher for mixing, some everyday foods, and a spray bottle.

In the large pitcher, pour 1 cup of water, 1 cup of white vinegar, and 1 tablespoon of baking soda.
Add 25 drops of grapefruit seed extract. If you can’t find this at your local grocery, check with a natural food store or specialty store.
Mix ingredients in the pitcher, and pour into a spray bottle

That’s it.

Then, when you’re ready to clean fruits and vegetables, use your homemade spray wash and coat the food liberally. Let the food stand for 5 minutes, then rinse the spray wash from the food in the sink.

Expect dirt to roll off fruit and vegetables surfaces and for the spray’s vinegar component to neutralize pesticides. You’ll be left with cleaner, healthier natural foods.

To make the fruit wash should take less than 5 minutes. Each batch should last one month, depending on the amount of fruits and vegetables you consume.

Homes for sale in Beverly Crest

Scott Pridemore — Tue, 21 Feb 2012 03:10:32 +0000

Showing properties 1 - 16 of 16. See more Beverly Crest community real estate.
(all data current as of 2/22/2012)

$345,000 : 827 Wismar Court, Charlotte

4 beds, 2 full, 1 part baths

Lot size: 12,632 sq ft

Listed with Keller Williams South Park

MLS #: 2065402

Status: Active
$349,999 : 2132 Mirow Place, Charlotte

4 beds, 2 full, 1 part baths

Lot size: 8,712 sq ft

Listed with Keller Williams BallantyneArea

MLS #: 2065218

Status: Active
$325,000 : 7609 Bosham Lane, Charlotte

4 beds, 2 full, 1 part baths

Lot size: 7,405 sq ft

Listed with Keller Williams University Cty

MLS #: 2065146

Status: Conditional Continue to Show
$314,900 : 724 Camaross Drive, Charlotte

4 beds, 2 full, 1 part baths

Lot size: 7,405 sq ft

Listed with Golf Realty, Inc

MLS #: 2064877

Status: Active
$399,000 : 815 Wismar Court, Charlotte

4 beds, 3 full, 1 part baths

Lot size: 8,712 sq ft

Listed with RE/MAX Executive Realty

MLS #: 2063526

Status: Active
$289,900 : 7325 Prescott Pond Lane, Charlotte

3 beds, 2 full, 1 part baths

Lot size: 7,405 sq ft

Listed with Wilkinson & Associates

MLS #: 2061531

Status: Active
$344,900 : 7604 Compton Court, Charlotte

4 beds, 2 full, 1 part baths

Lot size: 8,712 sq ft

Listed with Allen Tate Company

MLS #: 2060798

Status: Active
$289,000 : 7328 Prescott Pond Lane, Charlotte

4 beds, 2 full, 1 part baths

Lot size: 8,712 sq ft

Listed with CottinghamChalkHayes, Realtors

MLS #: 2060359

Status: Conditional Continue to Show
$394,900 : 7623 Bosham Lane, Charlotte

4 beds, 3 full, 1 part baths

Lot size: 8,407 sq ft

Listed with Southern Homes of the Carolina

MLS #: 2060201

Status: Conditional Continue to Show
$329,000 : 732 Camaross Drive, Charlotte

4 beds, 2 full, 1 part baths

Lot size: 9,583 sq ft

Listed with Keller Williams South Park

MLS #: 2058516

Status: Active
$399,900 : 7727 Compton Court, Charlotte

5 beds, 2 full, 1 part baths

Lot size: 6,970 sq ft

Listed with RE/MAX Executive Realty

MLS #: 2055445

Status: Active
$370,000 : 7616 Bosham Lane, Charlotte

5 beds, 2 full, 1 part baths

Lot size: 7,841 sq ft

Listed with Allen Tate Company

MLS #: 2054935

Status: Conditional Continue to Show
$244,500 : 2604 Saintfield Place, Charlotte

4 beds, 2 full, 1 part baths

Lot size: 6,970 sq ft

Listed with Allen Tate Company

MLS #: 2034715

Status: Active
$349,500 : 2228 Mirow Place, Charlotte

4 beds, 2 full, 1 part baths

Lot size: 7,841 sq ft

Listed with Exit Realty South

MLS #: 2054346

Status: Active
$244,900 : 2710 Saintfield Place, Charlotte

4 beds, 2 full, 1 part baths

Lot size: 7,405 sq ft

Listed with RE/MAX Executive Realty

MLS #: 2053614

Status: Conditional Continue to Show
$324,900 : 2120 Mirow Place, Charlotte

4 beds, 2 full, 1 part baths

Lot size: 7,405 sq ft

Listed with RE/MAX Metro Realty

MLS #: 2046110

Status: Conditional Continue to Show

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Homebuilder Confidence Returns To Pre-Recession Levels

Scott Pridemore — Thu, 16 Feb 2012 13:45:00 +0000

New construction buyers in Charlotte , look out. The nation’s home builders are predicting a strong 2012 for new home sales. It may mean higher home prices as the spring buying season approaches.

For the sixth straight month, the National Association of Homebuilders reports that homebuilder confidence is on the rise. The Housing Market Index climbed four points to 29 in February, the index’s highest reading since May 2007.

The Housing Market Index is now up 8 points in 8 weeks. The last time that happened was June 2003, a month during which the U.S. economy was regaining its footing, much like this month. It’s noteworthy that June 2003 marked the start of a 4-year bull run in the stock market that took equities up 54%.

The NAHB’s Housing Market Index itself is actually a composite reading. It’s the end-result of three separate surveys sent to home builders monthly.

The association’s questions are basic :

How are market conditions for the sale of new homes today?
How are market conditions for the sale of new homes in 6 months?
How is prospective buyer foot traffic?

In February, builders reported marked improvement across all three areas. Builders report that current home sales climbed 5 points; that sales expectations for the next 6 months climbed 5 points; and that buyer foot traffic climbed 1 point.

Most notable of all of the statistics, though, is that the nation’s home builders report that there are now twice as many buyers setting foot inside model units as compared to just 6 months ago.

This data is supported by the monthly New Home Sales report which shows rising sales and a shrinking new home inventory.

Because of this, today’s new home buyers throughout North Carolina should expect fewer concessions from builders at the time of contract including fewer price breaks on a home and fewer free upgrades. Builders are optimistic for the future and, therefore, may be less willing to “make a deal”.

This spring may mark the best time of year to buy a new home. 60 days forward, it may be too late.

Considering building a home in Charlotte. Great! See below for all building lots for sale in Charlotte.

Showing properties 1 - 30 of 500+. See more city of Charlotte real estate.
(all data current as of 2/22/2012)

$37,400 : 16133 Calverie Court, Charlotte

0 beds, 0 baths

Lot size: 22,608 sq ft

Listed with Ardent Realty Group LLC

MLS #: 2067553

Status: Active
$170,000 : 7301 Harrisburg Road, Charlotte

0 beds, 0 baths

Lot size: 4.90 ac

Listed with Century 21 At The University

MLS #: 2067372

Status: Active
$20,000 : 1ac Dixie River Road, Charlotte

0 beds, 0 baths

Lot size: 43,560 sq ft

Listed with CKS Real Estate Inc

MLS #: 2067319

Status: Active
$8,000 : 1300 Fairmont Street, Charlotte

0 beds, 0 baths

Lot size: 5,663 sq ft

Listed with Benham Real Estate Group, Inc.

MLS #: 2046055

Status: Active
$249,900 : 17701 Due West Drive, Charlotte

0 beds, 0 baths

Lot size: 1.12 ac

Listed with Metrolina Estates

MLS #: 2067229

Status: Active
$34,000 : 10804 Maryanna Court, Charlotte

0 beds, 0 baths

Lot size: 2.00 ac

Listed with Allen Tate Company

MLS #: 2067246

Status: Active
$100,000 : 0 Monroe Road, Charlotte

0 beds, 0 baths

Lot size: 27,443 sq ft

Listed with Coldwell Banker United

MLS #: 2067226

Status: Active
$99,000 : 8930 Island Point Road, Charlotte

0 beds, 0 baths

Lot size: 6.01 ac

Listed with Crescent Communities Realty

MLS #: 2066713

Status: Active
$1,299,000 : 221 Hermitage Road, Charlotte

0 beds, 0 baths

Lot size: 23,522 sq ft

Listed with HM Properties

MLS #: 2066734

Status: Active
$50,000 : 12415 Provincetowne Drive, Charlotte

0 beds, 0 baths

Lot size: 23,174 sq ft

Listed with Charlotte New Homes & Land Rlt

MLS #: 2066657

Status: Active
$395,000 : 2822 Briarcliff Place, Charlotte

0 beds, 0 baths

Lot size: 18,121 sq ft

Listed with Allen Tate Company

MLS #: 2066602

Status: Active
$10,000 : 2803 Grimes Street, Charlotte

0 beds, 0 baths

Lot size: 26,136 sq ft

Listed with Keller Williams Realty

MLS #: 2066510

Status: Active
$55,000 : 8336 Rolling Fields Road, Charlotte

0 beds, 0 baths

Lot size: 30,056 sq ft

Listed with Collins, Realtors

MLS #: 2066428

Status: Active
$55,000 : 8316 Rolling Fields Road, Charlotte

0 beds, 0 baths

Lot size: 30,056 sq ft

Listed with Collins, Realtors

MLS #: 2066425

Status: Active
$59,500 : 9010 Rose Taupe Drive, Charlotte

0 beds, 0 baths

Lot size: 2.00 ac

Listed with Park Avenue Properties, LLC

MLS #: 2066647

Status: Active
$60,000 : Lot 57 Rolling Fields Road, Charlotte

0 beds, 0 baths

Lot size: 30,056 sq ft

Listed with Keller Williams South Park

MLS #: 984178

Status: Active
$85,000 : 9221 Flying Eagle Lane, Charlotte

0 beds, 0 baths

Lot size: 4.70 ac

Listed with Crescent Communities Realty

MLS #: 2066012

Status: Active
$94,000 : 10437 Green Heron Court, Charlotte

0 beds, 0 baths

Lot size: 4.80 ac

Listed with Crescent Communities Realty

MLS #: 2066009

Status: Active
$1,175,000 : 9807 University City Boulevard, Charlotte

0 beds, 0 baths

Lot size: 3.00 ac

Listed with Allen Tate Company

MLS #: 2066125

Status: Active
$25,000 : 0 E Mallard Creek Church Road, Charlotte

0 beds, 0 baths

Lot size: 4,792 sq ft

Listed with Allen Tate Company

MLS #: 2066126

Status: Active
$36,500 : 2710 Woodsorrel Lane, Charlotte

0 beds, 0 baths

Lot size: 14,810 sq ft

Listed with Allen Tate Company

MLS #: 2035660

Status: Active
$36,500 : 10806 Maryanna Lane, Charlotte

0 beds, 0 baths

Lot size: 13,504 sq ft

Listed with Allen Tate Company

MLS #: 2035658

Status: Active
$36,500 : 2525 Woodsorrel Lane, Charlotte

0 beds, 0 baths

Lot size: 28,750 sq ft

Listed with Allen Tate Company

MLS #: 2035654

Status: Active
$36,500 : 2606 Woodsorrel Lane, Charlotte

0 beds, 0 baths

Lot size: 12,197 sq ft

Listed with Allen Tate Company

MLS #: 2033977

Status: Active
$36,500 : 2528 Woodsorrel Lane, Charlotte

0 beds, 0 baths

Lot size: 11,326 sq ft

Listed with Allen Tate Company

MLS #: 2033975

Status: Active
$36,500 : 10812 Maryanna Court, Charlotte

0 beds, 0 baths

Lot size: 10,019 sq ft

Listed with Allen Tate Company

MLS #: 2033971

Status: Active
$134,900 : 9950 Arlington Church Road, Charlotte

0 beds, 0 baths

Lot size: 5.10 ac

Listed with Carol Burnett Realty & Propert

MLS #: 2004250

Status: Active
$299,000 : 16825 Here At Last Lane, Charlotte

0 beds, 0 baths

Lot size: 41,382 sq ft

Listed with Wilkinson & Associates

MLS #: 2065872

Status: Active
$249,000 : 0000 Landover Road, Charlotte

0 beds, 0 baths

Lot size: 39,204 sq ft

Listed with Wilkinson & Associates

MLS #: 2065800

Status: Active
$85,000 : 10912 Green Heron Court, Charlotte

0 beds, 0 baths

Lot size: 2.67 ac

Listed with A Carolina Realty

MLS #: 2065980

Status: Active

Listing information deemed reliable but not guaranteed. Read full disclaimer.

With Retail Sales And Consumer Confidence Rising, Home Prices Are Expected To Follow

Scott Pridemore — Wed, 15 Feb 2012 13:45:00 +0000

The U.S. economy continues to show signs of a rebound.

According to the Census Bureau, Retail Sales climbed to $329 billion last month on a seasonally-adjusted basis, excluding automobiles. January’s data marks the 18th time in 19 months that Retail Sales rose, a run that’s increased total sales receipts by 11 percent.

This is big news because Retail Sales accounts for close to 70% of the U.S. economy.

In addition, consumer confidence is rising.

In a separate, joint report from the University of Michigan and Thompson Reuters, it was shown that consumer attitudes toward the economy and the future are improving, primarily the result of recent job gains.

The Survey of Consumers posted its highest value in 12 months.

It is not a coincidence that Retail Sales and consumer confidence both made multi-month highs — the readings are more than loosely linked. As consumers feel more confident about the economy and their personal prospects for the future, they’re more likely to spend money on goods and services, which leads to an increase in consumer spending.

For the housing market, the ramifications are two-fold.

First, from the financing side, an expanding economy is linked to rising mortgage rates. This is because Wall Street tends to chase risk in a growth economy and the bond market offers little in the way of risk. As demand for bonds drops, then, mortgage rates rise throughout North Carolina.

Second, rising consumer confidence can lead Charlotte home values higher, too.

Confident consumers are more likely than fearful ones to become home buyers. They’re more likely to stop renting and start buying; more likely to list their home and “move-up” to something bigger; more likely to “take the next step”.

So, as more buyers enter the market at a time when the national home supply is shrinking, the supply-demand balance in housing is shifting toward the sellers. This creates price pressures and should lead to higher home valuations in neighborhoods like Myers Park.

If you have plans to buy a home in 2012, the best time to buy may be now. Today’s mortgage rates are low and so are the home prices — a combination that’s unlikely to last.

Fewer Jobless Claims Suggests Higher Home Prices Ahead

Scott Pridemore — Tue, 14 Feb 2012 13:45:00 +0000

Economists believe the strength of the 2012 housing market will be closely tied to jobs. If they’re right, the housing market is ripe for a boost. It spells good news for Charlotte home sellers and may mean the end of bargain-basement prices for buyers.

Since peaking in mid-2009, the number of U.S. workers filing for first-time unemployment benefits has dropped 44 percent. Over the same period of time, the U.S. economy has added more than 2 million jobs and the national Unemployment Rate is down more than 1 percentage point to 8.3%.

Employment’s link to the housing market of Myers Park is both economic and psychological.

To make the economic link is straight-forward. A person with a job earns verifiable income and such income is required in order to be mortgage-eligible. For conventional and FHA purchase loans, for example, mortgage lenders want a home buyer’s monthly income be more than double his monthly debts.

For the formerly unemployed that have since returned to work, having a full-time income makes buying homes possible. It also supports higher home valuations nationwide because home prices are based on supply-and-demand. All things equal, when the number of buyers in a market goes up, prices do, too.

The psychological connection between housing and employment is a tad more complicated, but every bit as important. It’s not just out-of-work Americans that don’t look for homes — it’s fearful Americans, too. People with concerns about losing a job are just as unlikely to shop for homes as people actually without a job. The same is true for people unsure of their prospects for a better-paying job, or their own upward mobility.

A recovering job market can lessen those fears and draw out buyers — especially those who face a loss on the sale of an “underwater” home.

The Initial Jobless Claims rolling 4-week average is at its lowest level since 2008. Fewer Americans are losing jobs, and more are finding permanent placement.

It’s one more reason to be optimistic for this year’s housing market.

Today’s Home Buyers’ Hot Buttons

Scott Pridemore — Mon, 13 Feb 2012 20:16:13 +0000

Since the start of the economic stall, many sellers and their agents have found it more useful than ever to keep a steady eye on the changing priorities among home buyers. It’s not surprising to find that the Charlotte home buyer is likely to have grown both more critical and more practical when it comes to making that important buying decision.

At first glance one of the biggest changes may seem surprising, but it really shouldn’t be when you stop to consider the reasons behind it.

A recent survey shows that more over 85% of home buyers (even first-time home buyers) now prefer a move-in ready house — one that needs few or no repairs at all. While you might have supposed that the tight economy would cause bargain hunters to head for the lower-priced fixer-uppers in order to save money, the opposite is true. The reason is reality-based. In light of today’s tight lending standards, many prospective home buyers are being asked to come up with more out of pocket cash than was previously the case. When you add the probable cost of repairing or updating a home, the value of a move-in ready home becomes more readily apparent.

The conclusion is clear: if you want to sell your home, be sure to perform basic fixes before coming to market. That means no leaks on the bathroom floor or from the faucet, no squeaking doors or broken windows, fresh paint, clean surfaces!

Another hot button for local home buyers is the golden oldie: the value they get for their money. Although it’s always been the case, it is certainly true this winter. If the price is right, potential home buyers will go after your offering. When pricing a property, take into consideration all of the important factors just as canny home buyers will. Consider the condition of the house, its wow-factor features (both those it has and those it lacks), and finally the price of neighborhood competitors. Since location is a true buyer hot button, don’t be shy about exploiting any high points like desirable distances to shopping centers, nice schools, or employment opportunities.

Extra time on market can be expensive, so avoid the mistake of pricing high “just to see.” That extra 90 days on the market can cost you!

It is vital to know what potential buyers are looking for to understand what will be perceived as the strongest points of your own property. Once you identify the hot buttons for home buyers, emphasizing your home’s strong points will result a higher sale price. Contact me today to discuss the latest news about what the home buyers in Charlotte, NC are saying.

What Makes Great Real Estate Listings?

Scott Pridemore — Mon, 13 Feb 2012 19:59:05 +0000

Real estate listings can be more than uninspired collections of data outlining the physical characteristics of a residence. They are often the first introduction a potential buyer has to a property: and that property may be the one that winds up becoming an important part of a family’s life together. Whether they are listed online, via brochure or in the local classifieds, great real estate listings are usually a seller’s first – and often only – chance to seize the imagination of potential buyers.

For today’s Charlotte buyers, modern real estate listings are an unmatched time-saver. They bring a plethora of information that’s available 24/7/365. They shortcut the process of finding the right home in the right area at the right price, and they make it easy to find key information that allows comparing otherwise dissimilar offerings. The energy saved can make the difference between settling for an ‘almost’ right property and zeroing in on the perfect choice.

Checking the real estate listings online before actually visiting properties means saving time, effort, and money all at once. Not only are previews of prices and photos of the houses being offered available online – but also a wealth of information about the area, the local sales statistics, and, for out of town shoppers, an almost limitless depth of neighborhood facts. Websites like Trulia.com, Realtor.com, Zillow.com are just a few of the many sources of online real estate listings that include an abundance of extra information.

On the other hand, not all sources of online real estate listings are regularly monitored for timeliness or accuracy of information. Veteran househunters are familiar with what happens when less than professional sources result in unreturned email inquiries or unwanted solicitations. Lack of prompt (or even no) response is also more frequently possible when the listing in question deals with a foreclosure or short sale.

Our website offers up-to-the-hour information on the current housing market. The Charlotte area real estate listings you find there are always accurate and designed to maximize your ease of browsing. If you haven’t visited already, take a few moments to look through our real estate listings, then give me a call to chat about your home search: what you’ve found, and what you’re looking for. There is, after all, no substitute for local market experience – and the greatest real estate listings are the ones that steer you toward the home and the transaction you’re looking for.

For instance here are some great listings in Cotswold that have just had price reductions.

Showing properties 1 - 5 of 31. See more Cotswold community real estate.
(all data current as of 2/22/2012)

$399,900 : 1418 Audubon Road, Charlotte

3 beds, 2 full baths

Lot size: 19,166 sq ft

Listed with Realty Alliance LLC

MLS #: 2026255

Status: Conditional Continue to Show
$450,000 : 508 Wonderwood Drive, Charlotte

4 beds, 2 full, 1 part baths

Lot size: 1.83 ac

Listed with Allen Tate Company

MLS #: 2040500

Status: Active
$449,999 : 340 Wonderwood Drive, Charlotte

4 beds, 4 full, 1 part baths

Lot size: 26,572 sq ft

Listed with Allen Tate Company

MLS #: 2036920

Status: Conditional Continue to Show
$525,000 : 3909 Churchill Road, Charlotte

5 beds, 3 full, 1 part baths

Lot size: 23,087 sq ft

Listed with Keller Williams Lake Norman

MLS #: 2013895

Status: Active
$375,000 : 4109 Melchor Avenue, Charlotte

3 beds, 2 full baths

Lot size: 19,602 sq ft

Listed with Helen Adams Realty

MLS #: 2025327

Status: Active

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Top 10 Sunniest Cities In the United States

Scott Pridemore — Mon, 13 Feb 2012 13:45:00 +0000

As compared to gloomy days, do “sunny days” put you in a good mood? If you’re like many people in North Carolina , the answer is “yes”.

In a study of more than 1,200 people, researchers found that daily weather factors such as temperature, precipitation and length of day can alter a person’s emotional state. Of all the weather factors, however, “sunshine” can have the most profound effect.

The most likely reason is because sunshine affects people in a physiological manner.

When the human brain detects sunlight, our bodies produce serotonin, a chemical which promotes happiness and well-being. By contrast, when the brain detect darkness, our bodies produce melatonin, a chemical which promotes sleep cycles.

Sunlight — quite literally — leads to happiness.

Understanding the effect of sunlight on human mood, therefore, we must consider the nation’s “sunniest cities” as more than just a novelty list. It may be a link to personal well-being, too.

From the National Climactic Data Center, these are the Top 10 Sunniest Cities in the United States :

Yuma, AZ : Sunny on 90% of all days
Redding, CA : Sunny on 88% of all days
Las Vegas, NV : Sunny on 85% of all days
Phoenix, AZ : Sunny on 85% of all days
Tucson, AZ : Sunny on 85% of all days
El Paso, TX : Sunny on 84% of all days
Fresno, CA : Sunny on 79% of all days
Reno, NV : Sunny on 79% of all days
Flagstaff, AZ : Sunny on 78% of all days
Sacramento, CA : Sunny on 78% of all days

The sunshine rankings of other noteworthy cities include Key West, FL (#12 with 76% sunshine); Denver, CO (#30 with 68% sunshine); and Seattle, WA (#165 with 43% sunshine).

At the bottom of the list is Juneau. Just 30 percent of the Alaskan capital city’s days are sunny.

Our home city Charlotte NC, averages 64% Sunshine

The complete Sunshine Rankings as listed by Metropolitan Area is available on the NCDC website.

Home Affordability Threatened By Friday’s Jobs Report

Scott Pridemore — Thu, 02 Feb 2012 13:45:00 +0000

This week, once more, we find mortgage rates are on a downward trajectory. Conforming mortgage rates have returned to near all-time lows. After Friday morning’s Non-Farm Payrolls report, however, those low rates may come to an end.

It’s a risky time for North Carolina home buyers and would-be refinancers to be without a locked rate.

Each month, on the first Friday, the Bureau of Labor Statistics releases its Non-Farm Payrolls report for the month prior. More commonly called the “jobs report”, Non-Farm Payrolls provides a sector-by-sector employment breakdown, and the nation’s Unemployment Rate.

In December 2011, the government reported 200,000 net new jobs created, and an Unemployment Rate of 8.5%.

For January 2012, economists project 135,000 net new jobs with no change in the Unemployment Rate and, depending on how accurate those predictions are proved, FHA and conforming mortgage rates for homes in Dilworth are subject to change. The monthly jobs reports tends to have an out-sized influence on the direction of daily mortgage rates.

The connection between jobs and mortgage rates is fairly direct.

Job growth is a key cog in the economic growth engine and mortgage rates change daily based on short- and long-term economic expectation. As more people join the workforce, economic expectations change; the economy tends to expand, breeding optimism among investment. When this occurs, it often spurs investment in the stock market, which tends to leads mortgage rates up.

In short, in a recovering economy, when job growth is strong, all things equal, mortgage rates rise. Home affordability suffers.

So, for today’s rate shoppers, Friday’s job report represents a risk. The economy has added jobs over 15 straight months, a streak that’s added 2.1 million people to the workforce. Although the jobs market remains weak and well off its peaks from last decade, a 15-month streak is worth watching. More jobs means more more income earned nationwide, more money spent by households, and more taxes collected by governments.

This items build a foundation for economic growth and Wall Street is watching.

If tomorrow’s Non-Farm Payrolls shows more jobs created than the estimated 135,000, mortgage rates are expected to rise. If the jobs figures falls short, mortgage rates should fall.

The Non-Farm Payrolls report is released at 8:30 AM ET.

Case-Shiller Index Says Detroit And Washington DC Lead The Market

Scott Pridemore — Wed, 01 Feb 2012 13:45:00 +0000

Standard & Poors released its November 2011 Case-Shiller Index this week. The index measures the change in home prices from month-to-month, and year-to-year, in select U.S. cities.

According to the data, for the second straight month, home values fell in 19 of the Case-Shiller Index’s 20 tracked markets. In addition, also for the second straight month, Phoenix, Arizona was the lone Case-Shiller-tracked city in which home values rose.

Overall, November’s Case-Shiller Index showed a 1 percent decrease in home values between October and November 2011, and a near-4 percent decrease between November 2010 and 2011, putting home values at roughly the same levels as 8 years ago. Don’t read too far into it, however.

The Case-Shiller Index, though widely-cited, remains widely-flawed.

As a buyer or seller in Southpark, for example, , relying on the Case-Shiller Index for market research can lead you to improper conclusions. To understand the Case Shiller Index’s methodology is to understand why.

First, the Case-Shiller Index draws its data from a very limited geography.

There are more than 3,100 municipalities nationwide. The Case-Shiller Index tracks just 20 of them. And they’re not the 20 largest, either. Four of the Top 10 Most Populous U.S. Cities are excluded (Houston, Philadelphia, San Antonio, San Jose) whereas Minneapolis and Tampa are not.

Minneapolis is the 48th largest city in the United States. Tampa is #55.

Next, when Case-Shiller Index gathers its data from its 20 cities, it only includes the home sale data of single-family, detached homes. This means that sales of condominiums and multi-unit homes are specifically excluded from the index. There are some cities — Chicago and New York, for example — where condominium sales represent a large percentage of the overall market.

The Case-Shiller Index ignores that.

And, lastly, when the Case-Shiller Index is published, it’s published on a 60-day delay. Its data is not “current”, therefore, and does little to tell buyers and sellers of Charlotte and the country what’s happening in their home markets right this minute. Instead, the Case-Shiller Index tells us how the housing market looked two months ago.

If you’re active in the real estate market, either as a buyer or a seller, the Case-Shiller Index does you little good. For real-time data that actionable, speak to a real estate professional instead. It’s where you’ll find your best, most reliable and relevant information.